Dallas-based Regency Energy Partners LP has issued $80 million of Series A Convertible Preferred Units to investors led by MTP Energy Management and Harvest Partners in hopes of gaining Haynesville shale interest.
The units were priced at $18.30 per unit. Regency intends to use $63 million of the net proceeds from the offering to purchase an additional 5% ownership interest in the Haynesville Joint Venture from an affiliate of GE Energy Financial Services.

Upon closing, Regency’s total ownership interest in the Joint Venture will be 43%, and an affiliate of GE Energy Financial Services will retain a 7% partnership interest.

Regency intends to use the balance of the proceeds from the offering to fund ongoing, fee-based growth projects and further strengthen its position in the Haynesville Shale.